Serge Belanger, an analyst from Needham, maintained the Buy rating on Ocular Therapeutix (OCUL – Research Report). The associated price target was lowered to $14.00.
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Serge Belanger has given his Buy rating due to a combination of factors related to Ocular Therapeutix’s strategic advancements and financial updates. The company is progressing with its Axpaxli SOL registrational program, which includes the SOL-1 and SOL-R Phase 3 trials for wet age-related macular degeneration (wAMD). These trials aim to achieve a unique dosing schedule of 6-12 months, which could significantly differentiate the product in the market.
Recent amendments to the trial designs have been made to expedite the potential NDA submission process, reduce costs, and maintain alignment with the FDA without affecting the previous Special Protocol Assessment. The SOL-R trial, in particular, has benefited from a reduced trial size, which is expected to accelerate its completion. These strategic moves, along with the company’s financial performance, underpin Belanger’s positive outlook and Buy rating for the stock.
Belanger covers the Healthcare sector, focusing on stocks such as Cytokinetics, BioCryst, and Esperion. According to TipRanks, Belanger has an average return of 1.7% and a 41.54% success rate on recommended stocks.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $14.00 price target.
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